Thursday, October 30, 2008

Inventory Secured, All Ahead Full

Industry leader Toll Brothers secures their home inventory:

[NEW YORK, Oct 29 (Reuters)]

Toll has mounted rent-to-own programs in New York City; Singer Island, Florida; and Scottsdale, Arizona, under which tenants have time to rent while they consider buying.

Builders tend to deploy rent-to-own during the downside of a housing cycle, said Mollie Carmichael and Lesley Deutch of Irvine, California-based John Burns Real Estate Consulting.

"It's the product of tough times and also the number of homes that are out there competing. Kudos to Toll for taking a creative approach," Carmichael said.

No comments: